Yahoo Autos How Joe Gibbs Plans to Keep His Joe Gibbs Racing NASCAR Team in the Family
When NASCAR and Pro Football Hall of Fame member Joe Gibbs created Joe Gibbs Racing more than three decades ago, he cited the opportunity to spend more time with his family, especially sons J.D. and Coy, as the reason for his decision.
Now, his quest is to keep JGR a family operation for many years to come.
Family Ties
Both J.D. and Coy are now gone, dying in 2019 and 2022, both at the age of 49. However, the team continues as a family operation, shifting to the 82-year-old executive’s grandchildren. There's plenty of branches of that tree now with plenty of racing experience:
J.D.’s oldest son, Jackson, and Joe’s first grandchild is the front tire changer for Christopher Bell.
Coy’s oldest son, Ty, and Joe’s second grandchild drives the No. 54 Toyota in NASCAR’s Cup Series.
Joe’s third grandchild, Miller, and J.D.’s second of four sons will join the team in an executive position after his final football season at Appalachian State University in Boone, North Carolina.
Ty’s mother, Heather, has assumed an ownership role at JGR, attending the NASCAR and Race Team Alliance meetings. Melissa, J.D.’s wife, also participates in meetings at JGR, but devotes most of her time to starting a Christian school in an old church building she has acquired.
“We control the future of the race team—the Gibbs family,” Joe says emphatically.
“Our first three grandkids all want to be involved with racing. I missed a lot of J.D.’s and Coy’s growing up because I was chasing football and all the things you do at that level in the NFL. When I came to racing … I was able to work with J.D. and Coy on a daily basis with the race team. I loved that. Now, I’m gonna get to see a number of the grandkids.
"We don’t know how many of them will want to be involved with the race team … but the first three look like they’re gonna be here and that’s exciting for me. Heather has a huge interest in racing … and that’s exciting for us.”
What Sale to HBSE Means to JGR
Joe says speculation that Harris Blitzer Sports & Entertainment and Arctos Partners, which became a minority investor in the team in June, bought out the Gibbs family is inaccurate. He says that ever since JGR was created they have always looked at ways to strengthen the operation financially without the Gibbs family relinquishing control of it.
“We had a satellite tracking device thing that we tried. We tried an oil company. We tried different things at different times,” says Joe, who will be a limited partner in HBSE, pending approval by the NBA and NHL. “One or two of those kind of helped some, but nothing … really strengthened us that much.”
Joe says the team had discussions with several different groups but HBSE “jumped out” as one that could help strengthen JGR due to their ownership of other professional sports teams. Initially, he didn’t think anyone would agree to come in with a financial investment and allow the Gibbs family to run JGR, but HBSE was the “one that we really hit it off with.” He says HBSR studied NASCAR and as the discussions with JGR progressed they eventually reached an agreement.
“They have a lot of companies that they’re associated with,” Joe says. “They’re very sophisticated in the technical ways they run their companies. There’s just so many things I think we could benefit from in having this relationship.”
HBSE’s global portfolio includes the NBA Philadelphia 76ers and the NHL New Jersey Devils. Arctos Partners has invested in more than 20 sports franchises and adjacent businesses.
HBSE co-founder Josh Harris is leading a group that has reached an agreement to buy the NFL Washington Commanders and is awaiting approval from the NFL owners. When the NFL team was known as the Washington Redskins, Joe Gibbs led the team to three Super Bowl championships, a 124-60 regular season record and a 16-5 record in 21 postseason games.
"However, it wasn’t Joe’s NFL’s connection to the team that led him to HBSE. It was purely coincidental since Joe says discussions with the investment group began 10 months ago, and for the first three months the Washington Commanders weren’t for sale. The discussions with HBSE began before Coy’s death on Nov. 6, which occurred just hours after he celebrated the NASCAR Xfinity Series championship with his son Ty.
Racing a Part of Joe Gibbs' Life Before Football
Hot rods and racing have been a part of Joe’s life since his family relocated to Southern California from Western North Carolina when he was 16 years old. In California, he drag raced a Gas Coupe, a Gas Dragster and a Top Fuel car that he blew up immediately and never rebuilt due to a lack of money.
When JGR made its debut in NASCAR in 1992 it had one car, 17 people and Joe thought it would be “more of a hobby and we would all enjoy it.” In the mid-1990s, JGR also ventured into drag racing, fielding NHRA teams in Top Fuel, Funny Car, and Pro Stock.
In JGR’s early years, J.D. competed in the NASCAR Busch Series (now Xfinity) races, Craftsman Truck Series, and the NASCAR K&N Pro Series East while also serving as a JGR over-the-wall crew member.
Coy also competed in NASCAR’s Busch and Truck series. He made his Truck series debut in 2000. He moved to the Busch Series in 2003 and was runner-up for Rookie of the Year honors. In August 2007, Coy announced the formation of Joe Gibbs Racing Motocross, competing in the AMA motocross and supercross championships.
“The great thing is we’ve been able to enjoy it as a family,” Joe says about racing. “That to me is so rewarding. I just really appreciate the NASCAR world. We love it and we want to continue in it forever.”
